Recently, the Citigroup report indicated that Chinese H shares listed in Hong Kong are more sensitive to the Federal Reserve's interest rate cuts, so they continue to be optimistic that there are more H shares than A shares. Citi lowered its target for the Hang Seng Index by 3% to 1,800 points by the end of this year, and also lowered its target by 5% to 21,000 points for the middle of next year.
The Zhitong Finance App learned that recently, Citigroup reports that Chinese H shares listed in Hong Kong are more sensitive to the Federal Reserve's interest rate cuts, so they continue to be more optimistic about H shares than A shares. Citi lowered its target for the Hang Seng Index by 3% to 1,800 points by the end of this year, and also lowered its target by 5% to 21,000 points for the middle of next year.
Citi raised Telecom stocks from “neutral” to “increased holdings,” reflecting that the performance of the first half of this year was better than expected and the yield was attractive; raw materials stocks were reduced from “increased holdings” to “neutral,” mainly taking into account downside risks in sales and prices.
In terms of shares, Citi added preferred stocks Tencent Holdings (00700), Universal Data (09698), and Haier Smart Home (06690). Maintain ASMPT (00522), Chuangke Industrial (00669), and BYD shares (01211) as the preferred purchases.